Latest News for: Greek banking system

Accusing the previous political system, along with the “technocrats of the IMF and Europeanbanks” of punishing the majority of Greeks “to save their own banks,” Tsipras said that his government eventually made a “difficult compromise” in 2015......

The reduction of Greekbanks’ stock of bad loans is also leading to a shrinking of the credit system’s assets, which may make local lenders healthier but also significantly smaller ... The size of the bankingsystem in the next few years will depend on the growth of the ......

Greece’s national income fell by 28 percent, the Greekbankingsystem lost 30 percent of its deposits, and the economy was plunged into a recession with exceptionally high unemployment ... Greece’s national income fell by 28 percent, the Greekbankingsystem lost 30 percent of ......

The recovery and upgrading of the Greek economy is improving the bankingsystem’s access to liquidity, while the inflow of new deposits amounting to 15 billion euros in 2018 has contributed significantly toward the ......

April 02, 2013 "InformationClearing House" - The dramatic recent events in Cyprus have highlighted the fundamental weakness in the Europeanbankingsystem and the extreme fragility of fractional reserve banking...Unfortunately, all of this is the predictable result of a fiat paper money system combined with fractional reserve banking....

...London that a five-man team under his control had been working for months on a contingency plan to create euro liquidity if the EuropeanCentralBank cut off emergency funding to the Greek financial system, as it in fact did after talks broke down and Syriza called a referendum....

A second option might include a temporary two-tier system, using in parallel to the euro a devalued drachma, controlled by the GreekCentralBank to stimulate and revive the local economy, while the euro is being used for international transactions; much like China did with a ......

The PublicDebtManagementAgency announced on Monday that three US and three Europeanbanks had been appointed to be the joint lead managers of the issue ... As a senior official at a Greeksystemicbank told Kathimerini, the anticipated success of this issue will improve the climate for attracting investors in the long term....

I aim to make NationalBank the Greeks’ first choice ... It has a strong balance sheet with significant provisions and relatively low level of NPLs [compared to the other Greeksystemicbanks] ... If, at the end of the system’s big adjustment, there is no room for four banks in the Greek market, then maybe we will move ahead with mergers....

NationalBank needs to be transformed, chief executive Pavlos Mylonas told Kathimerini in ...The NationalBank chief does not rule out the prospect of further concentration in the Greek credit system, but that concerns “the distant future,” he added....

His unprecedented proposal, by Greek standards, came during a meeting with the heads of the country’s systemicbanks (National, Eurobank, Piraeus and Alpha) and the leadership of the HBA, the paper said....

The Finance Ministry is revisiting plans for a benchmark 10-year bond that have been frozen for over a year, with March looking likely for its issue ...All of this actually boils down to the state of the bankingsystem, which the investment community regards as the biggest challenge facing the Greek economy ... ....